Author Archives: Heartland Banks Blogger

How to Hit a Homerun in Retirement

Heartland_Blog_HowToHitAHomerun

Winning in a baseball game or in your retirement savings is no easy feat! It takes dedication and determination to seal the win. As you begin to reexamine your retirement plan try these key pointers from Heartland Bank to coach you along the way!

Load the Bases

If you have available resources, make sure you’re using them! Just as a batter is primed to score with his bases covered in players, so are you by capitalizing on your 401(k), IRA, personal savings, and structured investing plan. Score extra points by taking advantage of your company’s 401(k) which matches your monthly contributions up to a certain percentage of your salary. Those are free dollars to aim towards your retirement!

Pitch a No Hitter

Don’t let the opposing team get ahead; work to pitch a no hitter by setting up your emergency savings fund. Instead of walking any unexpected expenses, such as auto repairs or medical bills, send those players back to the dugout with an added savings curve ball. You’ll be protecting your savings and racking up points, while staking your claim to your space in the hall of fame.

Build a Winning Team

Just as you would compile your fantasy team around leading scorers and left handed pitchers, the same applies to your financial team! At Heartland Bank we have a well-rounded lineup of personal bankers, wealth advisers, and lenders to help you make it to the big leagues.

Play Extra Innings

Even in retirement, there’s no rule against a little over time! Take up a part or full-time job you enjoy to cover living expenses before you have to dip into your savings account. You and your spouse could land a home run in the bottom of the 10th with some additional income at the start of your retirement.
No matter if you’re swinging for the fences or just trying to get on base, our experienced team at Heartland Bank can help craft a game plan for your retirement! Give us a call at (515) 352-3181 or stop by the bank today!

Generational Financial Habits: Baby Boomers, Gen X, Millennials, and Gen Z.

Heartland_Blog_GenerationalSpendingHabits

When it comes to your spending habits, your age may influence your decisions more than you think! Depending on your generation, there may be some key patterns that differentiate you from your older and younger counterparts. Discover your key financial traits with this helpful guide courtesy of Heartland Bank.

Baby Boomers

Typically classified as the savers of the modern age, many of those age 51-70 are known for tucking away funds as quickly as they can accumulate them. Many baby boomers were affected by both the Kennedy and Martin Luther King Jr. assassinations and hold strong sense of mistrust of the system. There are many in this generation who choose savings options outside of financial institutions. This large generation of approximately 70 million people, is currently in the process leaving the workforce and entering retirement. The most important item on their financial agenda is to save and secure funds for the decades of life they will enjoy outside nine to five.

Generation X

Often overshadowed by the large baby boomers ahead of them, generation X’ers tend to be strong willed and decisive, fighting for their share of the financial pie. Having been one of the first generations to experience divorce as a normal occurrence, many of those adults age 40-50 continue to look out for their individual financial wellbeing through strictly defensive tactics. Boasting on the highest education rates, this group makes strategic savings plans, constantly preparing for the ball to drop. They are best known for their cautious optimism and lofty financial goals.

Millennials

The current generation of twenty and thirtysomethings, were shaped by a highly digital world. Growing up in the age of computers and terrorism, these young adults believe that the typical American dream, may be slightly skewed. In many areas, home and car ownership is on the decline as more and more millennials strive to gain experiences over material possessions. Influenced by their parental counterparts, it is common to see this generation shying away from long term debt after seeing their parents succumb to missed payments and foreclosures during the 2008 economic crash. Couple that cautious initiative with crippling student loans and added inflation, where now today many college graduates are working multiple jobs to simply make ends meet.

Generation Z

The up-and-coming generation of the century, this group is the first age demographic to grow up completely immersed in digital technology. The days of cell phones and computers encompassed their childhood, and many of those age 0-20 have never known life without the digital realm. Still relatively young, these Gen Z’s take diversification to the next level, not trusting too much in any one entity. With advancing diagnostic systems this generation takes time and consideration into account before making any major life decision. As this generation ages, more experiences and choices will continue to shape their financial style.

No matter what generation you are a part of, there are a variety of ways you can improve your financial habits. Speak with one of our experienced personal bankers today, and we’ll show you how to get started!

What Your Teen Needs to Know About Money Management

Heartland_Blog_WhatDoesYourTeenNeedToKnow

Throughout their teenage years, your children will begin to grow their personal money management style. Offer them some assistance by offering these four financial lessons from Heartland Bank.

Securing Their First Job

No matter if it’s babysitting, lifeguarding, or bagging groceries, there are plenty of employment options for eager high school students. These opportunities typically start at minimum wage with zero benefits, but offer a foundation of experience and learning. Talk with your son or daughter, and help them select positions to apply for that resonate with them. Resources such as the Chamber of Commerce often list local job openings, and are a good place to comb for recent availabilities.

Managing Money

The younger you begin various habits, the better they stick with you. Teach your children the positive effect proper money management can have on their pocketbook. Start by opening both a savings and a checking account for your teen. Each pay period, help them figure ten percent of their earnings to put into their savings. You can also work with them one-on-one each month to help balance their checkbook and plan for any large expenditures.

Saving for College

Secondary education isn’t cheap. If your son or daughter plans on attending a college or trade school, the time to start saving is now! Work with your future student to determine an educational budget, providing an estimate of upcoming expenses. Once you know the amount needed you can set savings goals for both you and your teen to start tucking money away. The sooner you begin your savings journey the smoother the road will be to your target amount.

Making Payments

Whether it’s purchasing their first car or simply covering the cost of meals at school, learning how to maintain a payment plan is an important life lesson. Explain your personal bill paying system to your teen and see how they can tailor it to their needs. Once they have a grasp on the system itself, gradually add payments to your child’s list of responsibilities, even if you add the money to their account. This will help them learn to keep an updated payment calendar before they graduate high school.

Money management is a continual learning process. There are always new techniques or tricks to better arrange your finances. Don’t stop honing your teen’s money management after these four lessons – stop by Heartland Bank and see how you can keep growing your family’s financial skills today!

Iowa State Fair DO’s and DON’TS

Heartland_Blog_IowaStateFair

The fair is coming the fair is coming! Starting August 5, swarms of eager Iowans will descend upon the city of Des Moines for the annual Iowa State Fair. This long awaited tradition is a culmination of the year’s best culinary, entertainment, and educational endeavors. This fair season take note of these key activities to try, along with the top things to avoid, courtesy of Heartland Bank.

This year be sure you DO:

Sample the various food offerings throughout the fair including the famous Hot Beef Sundae, Pork Chop on a Stick, Classic Lemonade, and exciting NEW treats!
Watch family fun competitions encompassing everything from Mutton Bustin’ to Diaper Derbies. Join the fun and sign up for the event that plays best to your strengths.
Walk through the various livestock and produce areas to see the biggest and best of what Iowa farmers have produced. Between the biggest bull and largest pumpkin contest, you’ll be surprised at what Iowa farmers can do!
Help you children understand the importance of agriculture by visiting Little Hands on the Farm in the Kid’s Zone! This interactive experience will teach them the various chores farmers complete on a day-to-day basis.
Catch a once in a lifetime show at in the fair’s Grandstand Arena. With artists like Meghan Trainor, Jason Derulo, KISS, and Lady Antebellum, this year’s line-up will be a winner!

This year be sure you DON’T:

Miss the butter cow and other dairy made sculptures. This unique Iowa tradition immortalizes various pop icons each and every year! Be sure you and your family stop to take a look!
Get lost! Check out the site’s mobile friendly map to help navigate your way across the busy fairgrounds. You can find the nearest bathroom on here too!
Leave your child unattended. With so much to do and see, make sure your entire family is with you while you venture from place to place. The fairground offers strollers and wagons to rent inside Grand Avenue Gate #11 and Gate #15.
Forget to drink water and wear sunscreen. Since most of the exciting fair activities are outdoors, protect yourself and your family by being proactively prepared.
MISS THE FAIR. Whether it’s been five days or five years since you’ve been down to the State Fair, be a part of the action this year in Des Moines and come by! With so many incredible people, entertainment, and food, this is one annual event you won’t want to miss!

During your trip to the Iowa State Fair, your account is never too far away. Set-up your online banking experience before you go for instant access to monitoring and managing your personal finances. Stop by the bank and get started today!

10 Things Successful People Do

How to be sucessful

Ever wonder how Mark Zuckerberg or Richard Branson got where they are today? Success doesn’t come easy, but it grows where it is watered. At Heartland Bank, we want to help you climb into success with these simple tactics! Learn how to begin your journey to the top with these 10 key actions:

Have maker time. No matter how many meetings there are in a day, schedule time each and every day to create, produce, and whittle down your to-do list. Not only will you get more done, but you’ll get more completed within your structured time!
Prioritize your tasks. Sometimes that to-do list can be a mile long. Start your day with one main priority, and three sub tasks. Once these core items have been completed you can move on to the other smaller agendas you have for the day.
Keep your values. Whether it’s making it home for dinner, or keeping on top of an evening health regiment, realize there are other values outside of work that need your attention too. Designate your time at work to do the most you can, so once the clock hits five, you know you’re scheduled to be somewhere else.
Strategize your meetings. Do you need to be in every one of your meetings? Perhaps not! Speak with meeting organizers to determine if your input is truly needed and if so, could that be communicated through email instead? Time is precious, so make the most of yours!
Say no. No is a powerful word. While you may not be able to say “no” to a supervisor’s request, when being asked to participate in additional projects, be selective and only join the workload you can handle appropriately
Know when to delegate. You can’t do everything yourself. Invest time in your peers and ensure that if you need a task completed, they are up to the challenge. A great leader utilizers their team’s strengths and weaknesses, so be sure you’re putting the best person on each task.
Create a daily routine. Everything from your morning breakfast choices, the various times you check your emails, to your scheduled breaks, you need to have a routine, and stick to it!
Treat failure as a lesson. There’s a learning experience in every failure. By taking this simple mindset to heart, you can embrace the good that comes with every thwarted attempt. This insight helps not only grow your current project, but also broadens your mind to potential possibilities for future endeavors.
Choose a mentor. The day you stop learning is the day you stop growing. One of the most effective things successful people do is to continue to learn. By never boasting a full cup, you can continue to add valuable knowledge to your repertoire and learn from someone who’s navigated many experiences you’ll soon face.
Wake up early. The early bird gets the worm! Whether you start work at 4:00am, 8:00am, or 8:00pm arrive early to collect your thoughts before your co-workers swarm in. During rush hour you’ll also notice an easier drive if you leave an extra half hour or hour early.

Save $3,500 this Year by Removing These 6 Things

Savings

Saving money is no easy task! Only after dedication and determination, can you look successfully into your account to see the difference saving can make. At Heartland Bank, we’re excited to help you achieve your financial goals, and we can’t wait to get started! If you’re looking to tuck some funds away for an emergency savings, or vacation fund, these six tips can help you accumulate $3,500 in savings over the course of the next year.

$720: Cut the cable – at $60+ each month this common expense eat up your budget in a hurry!
$1400: Brew your own java – instead of grabbing a latte on your way to work make your own cup of joe and save that extra $4/day.
$600: Plan Your Meals – instead of playing by ear each night for dinner, make a dedicated meal plan each week and stick to it. This will help cut costs on eating out and unused groceries. Remove one dining out meal each month and see the difference this can make!
$468: Workout at home – the average gym membership runs $39/month which over the course of the year can add up quick. Try online workout videos and create a routine which uses various household items.
$312: Pack your lunch – With most quick lunches running about $10/each, sneaking away for lunch could be costing you! Try packing a lunch from home to avoid these expensive dining options. Changing just three lunches each month could save you more than three-hundred dollars!

Learn how to open up your ideal savings account at Heartland Bank to get started on your savings dreams today!

What Your Birth Order Says About Your Money Management

Personal Finances

Every family knows there’s a difference between the various siblings, but why is that? Many psychologists agree, birth order plays a large role! Each member of your family is generally rooted in one of four personality types which help define their core behaviors and beliefs. Discover how these traits can translate to your money management style at Heartland Bank.

First Born: Typically the leader of the family, first borns are strong minded and organized with a heavy protective tendency. Many of those born first err on the side of caution, creating savings accounts for emergencies and unexpected situations. This sibling tends to enjoy being in charge and knowing all the variables. Any expenses, debts, or other monthly bills will be allocated and prepared accordingly. First borns tend to work towards their dreams, and may have the downfall of taking a financial risk to do so.

Middle Child: Always the people pleaser, middle children are most known for helping others. If you need an extra buck or two for lunch, this sibling will the the first to lend a hand. Often on the rebellious side, the middle child may be more apt to invest in some riskier stocks, but depending if they pan out, it could make financial sense in the long run. Typically talkative and social, many middle children challenge the norm and create new versions of savings schemes. This sibling will be the first to try the next and best retirement plan before storing away long term savings.

Last Born: Optimism, attention, and organization generally drive the youngest of the siblings. After learning from the mistakes of the older members of the family, this child typically has most financial questions answered before ever needing to ask. This sibling will be the guru of rewards points, always finding the best perks and benefits for various programs. Always looking on the bright side, the last born is compelled to live the best of their life now, assured the future will work itself out later.

Only Child: Frequently told they’re mature for their age, the only child is known for their leadership, sophistication, and drive towards perfection. The typical only child will have a detailed account record with meticulous payment upkeep. These individuals strive to be the best, and are determined to achieve their goals. Expect them to have a strategic savings plan, retirement investing, and a well-rounded home improvement fund. Always up for a challenge, only children can often be great investors seeking out the best stock options for their needs.

No matter your place within the family tree, you’ll always have a financial partner with Heartland Bank. Whichever goal you’re aiming to tackle next, we’ll help you achieve it!

How to Tip on Vacation

Vacation Tips

Traveling the world is both adventurous and insightful. From climbing mountain peaks, to swimming among tropical fish, wherever your next vacation takes you, make sure you’re financially prepared. At Heartland Bank, were excited to help you get ready for your upcoming destination! Try these tipping tricks next time you’re out and about on your future getaway.

Bartenders: $1 per drink or, or 15-20 percent of the total bill.

Bellman/Porter: $1-2 per piece of luggage.

Casino Card Dealers:Tip a chip in the amount you are betting, staggered on your amount of win’s. If you are playing $5 chips and win a few then giving the dealer a $5 chip as well.

Concierge: $5 per request.

Hairdresser/Manicurist: An additional 10-20 percent for a good service.

Housekeeping: $2-3 per night up to $5 generally in more high end hotels.

Instructors: An additional $10-20 per quality lesson for various sport or leisure activities.

In suite dining: Service charge goes to the hotel not the waiter. If no gratuity added put on an additional 15-20 percent tip.

Scuba Diving: For an afternoon (or 2 tank dive) it is common to tip $20 per person, per day of the trip. These tips generally go to the deck hands and dive guides for equipment hauling and tank turnover.

Spa: Tip 10-20 percent if gratuity has not already been included.

Tour Guides: 15-20 percent or more depending on knowledge and quality of the outing.

Valet Parking: $2-5 when picking up car.

For all your vacation excursions and more, these helpful tips will aid you in all of your travel spending. To better manage your finances back home, be sure to give Heartland Bank a call! We’ll work with you to help boost your savings to make your next vacation a relaxing success.

The DO’s and DON’TS of Debit and Credit Cards

Payment Options

This week we are excited to dive into the Do’s and Don’ts of Credit and Debit cards! Offering two very similar, but uniquely different services for your financial needs, these cards can help you to reign in your finances and grow your credit score when used properly. Learn all about these tips and tricks courtesy of Heartland Bank.

Debit Card: A card issued by the bank, that is tied directly to a checking or savings account, which allows money to be electronically transferred from one bank account to another when making a purchase.

Use for daily transactions. It’s always great to have a paper trail reminding you of your purchases.
Use for repeated expenses such as gas, groceries, and other costs you can plan for.
Balance your check book. Sometimes charges such as gas or dining can take several days to run through so be sure to keep track of your spending by balancing your checkbook weekly.

DON’T

Use your debit card online unless you absolutely have to. Having your credit card information stolen is one thing, having your bank information stolen is another.
Spend more than you have in your account. Overdraft fees are no fun for anyone!
Postdate transactions if funds are not readily available in your account.

Credit Card: A small plastic card that is offered by the bank or other financial institution, allowing the card owner to purchase goods and services on credit.

Use for online expenses through secured vendors. Many discounts may be offered online only and can save you and your family a bundle.
Pay your bill in full each and every month. Make to avoid hefty interest rates and other timely fees by not extending your balance over the next month.
Utilize points to help you earn while you spend. These points are great for supplementing costs of family trips or other extra activities.

DON’T

Spend more than you have allocated for the month. Paying more for interest and other fees is money wasted.
Open too many credit card accounts. Keep one or two cards that you use and payoff each month to help boost your score.
Max out your balance, even if you pay if off each month this can potentially damage your credit score and serve as a red flag to potential lenders.

Get started on your finances today with a secure credit or debit card from Heartland Bank! We’ll help you understand the ups and downs of each and find the best solution for you and your needs.

The Route to Home Ownership

Mortgages

The journey to becoming a first time owner is an exciting and personal process. With questions ranging from price, commodities, to neighborhoods and more, the task of finding your ideal property can seem daunting. At Heartland Bank we want to help you make the most of your home buying experience with our guided route to home ownership. Sit back, relax, and enjoy the view as we take you step by step through the first time home buying process.

Assess your personal finances. Take a good hard look at your current sources of income, in addition to the underlying expenses you have each month. Determine if your funds can support the cost of a monthly mortgage, property taxes, home insurance, and all the other associated costs of home ownership.
Mortgage Pre-Approval. Once you’ve decided to make the jump into home ownership it’s time to determine what your ideal purchase price will look like. Work with your mortgage lender to decide on the best price range for you and your family. After determining your financing needs together, the bank will evaluate your credit history award you with a pre-approval letter for the amount they will agree to finance.
Find “The House.” Here comes the fun part – house hunting! Pair up with a reputable realtor from the area to look at houses that do not exceed the approved purchase price. You may look at six homes, or thirteen, but once you find the right property you’ll know it’s the one!
Get an approved offer. After touring the property and checking for any major repairs, speak with your realtor about putting in an offer on the house at price within your budget. The seller may counter with a different price point, and negotiations for the offer can be discussed with your realtor. When you and the seller have agreed to a purchase price and a finalized offer is signed you officially have an accepted offer to purchase your future home!
Speak with your mortgage lender. Now that you’ve found your new place, your mortgage lender can gather accurate tax information and further specifics for your mortgage financing. Reach out to confirm the terms of the loan prior to closing to help ensure a smooth transition.
Home Inspection. Since you and the buyer now have an accepted agreement it’s time to fully inspect the property you intend on buying. Speak with your realtor for recommended home inspectors in the area, and set up a time when both you and the realtor can be present. The home inspector will detail notes about the property concerning safety hazards and other important repairs that be taken care of at the sellers expense.
Close the offer. After all the paperwork is finalized, and you complete the final walk through of the home, it’s finally time receive your mortgage financing and close the home offer.
The House is yours. All your hard work has paid off and you are now a home owner! Celebrate this monumental achievement by inviting family and friends over for a moving or house warming party!

Whether you’re looking for a peaceful cottage in the country, new construction in the city, or a happy hideaway in the suburbs, Heartland Bank can help you with all your financing needs. Stop by the bank or give us a call at (515) 352-3181 and get started on your home buying journey today!